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Friday, March 29, 2024
Nigeria’s Oil Production Falls Below 1Mbpd

Nigeria’s Oil Production Falls Below 1Mbpd

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Nigeria’s crude oil production fell below 1 million barrels per day (mbpd) in August, figures from its regulator show, as the nation grappled with widespread theft from its pipelines.
Crude oil production: Angola, Libya overtake Nigeria – OPEC report

Crude oil production: Angola, Libya overtake Nigeria – OPEC report

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Angola and Libya have overtaken Nigeria as Africa’s highest crude oil producer, says a report by the Organisation of the Petroleum Exporting Countries (OPEC).
16.5Bn Fuel Imports: NNPC Submits to Forensic Audit

16.5Bn Fuel Imports: NNPC Submits to Forensic Audit

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The Nigerian National Petroleum Company Limited (NNPC Ltd) has offered to submit itself for a forensic audit of fuel supply and subsidy management, insisting that daily fuel supply is 68 million litres.
20 ships discharge petroleum products, others at Lagos ports – NPA 

20 ships discharge petroleum products, others at Lagos ports – NPA 

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20 ships discharge petroleum products, others at Lagos ports – NPA   The Nigerian Ports Authority (NPA) said that 20 ships at the Lagos Port Complex...
Fuel Scarcity: Minister pushes to overcome supply disruption

Fuel Scarcity: Minister Pushes to Overcome Supply Disruption

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The Minister of State, Petroleum Resources, Chief Timipre Sylva, says the Federal Government and regulatory authorities are making efforts to address fuel scarcity by ensuring that supply disruption is overcome.
Oil Tumbles below $100/Barrel on Expected Output Hike

Oil Tumbles below $100/Barrel on Expected Output Hike

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Crude oil prices tumbled, falling below $100 per barrel, on expectations that the Organisation of Petroleum Exporting Countries (OPEC) and allies will raise output at their august meeting. The price decline is also noted to have been supported by the prospect that oil companies would ramp up output following a very good earnings season, according to OANDA analyst Edward Moya.
Seplat Shares Jump 13% on LSE, Flat in Nigerian Bourse as Mobil Deal Clear

Seplat Shares Jump 13% on LSE, Flat in Nigerian Bourse as Mobil Deal Clear

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Seplat Energy Plc has price remains steady at N1430.50, its seventh day trading print after the company gets approval to acquire the entire share capital of ExxonMobil’s interest in Mobil Producing Nigeria Unlimited.
Buhari Reverses Consent on Seplat-ExxonMobil Acquisition Deal

Buhari Reverses Consent on Seplat-ExxonMobil Acquisition Deal

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Nigeria’s President Muhammadu Buhari has withheld his initial approval of Exxon Mobil’s sale of local offshore shallow water assets to Seplat, his spokesman said on Thursday, after the oil regulator refused to give its consent.
Oil Falls as Market Keeps Tab on US-Iran Nuclear Deal

Oil Falls as Market Keeps Tab on US-Iran Nuclear Deal

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Crude oil prices slide lower early Tuesday, after recovering slightly at the start of the week, as recession fears force a substantial correction and nuclear deal talks conclude in Vienna, OANDA analyst Craig Erlam said in a Tuesday note.
ExxonMobil Renews Oil Mining Leases for 20-Year

ExxonMobil Renews Oil Mining Leases for 20-Year

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ExxonMobil Nigeria has expressed commitment to maintain a significant deepwater presence in Nigeria for the next 20 years to unlock a sizeable potential value in its renewed Oil Mining Leases (OMLs)